Should Goldman Sachs buy a bank?

People tend to assume Goldman Sachs wields extraordinary power over Wachovia. The recent appointment of Robert Steel, a former Goldman Sachs executive, as the troubled bank's new CEO only seemed to confirm the godly influence of the premier investment bank. So perhaps it was inevitable that rumors would crop up that Goldman Sachs was taking a look at buying Wachovia. TheDeal.com explores the issue a bit, noting among other things that such a deal might work as a massive defensive move. Merrill Lynch's Guy Moszkowski fanned the issue with a recent report that noted Goldman has internally discussed buying a commercial bank. No doubt it has taken an analytical look, but it's doubtful that the bank is convinced it needs a retail base of deposits to act as a buffer of sorts. Still, who knows? These are extraordinary times.  

For more:
- here's the post on TheDeal.com

Related Articles:
Can Wachovia survive on its own?
What's up with Wachovia?